Date: 2013-12-02
Type of information: Series B financing round
Company: Telormedix (Switzerland)
Investors: Aravis Venture (Switzerland), Proquest Investments (USA)
Amount: CHF 6 million (€ 4.87 million)
Funding type: series B financing round
Planned used: The funds will be used to support the on-going Phase II clinical trial of TMX-101 for the treatment of carcinoma in situ (CIS) in the bladder and to finance the planning of a follow on trial for patients with CIS, expected to start in 2014. TMX-101, Telormedix’ lead compound, a TLR7 agonist, is currently in an open-label Phase II clinical trial involving 12 CIS patients recruited from private urology clinics in the USA, to examine the efficacy of the drug over six doses. The active ingredient in TMX-101 is a known immuno-modulatory molecule with a favourable safety profile and a demonstrated clinical efficacy in oncological and viral diseases. Patients with high-grade tumors or CIS currently most often receive treatment with Bacillus Calmette-Guérin (BCG), an intravesical immunotherapy that is unfortunately often accompanied by prolonged bladder irritation, fever, and bleeding which may force the treating physician to decrease the BCG dosage or to discontinue the therapy. TMX-101 has already demonstrated a strong disease-modifying cytokine response in a clinical trial involving patients with papillary, non-muscle invasive bladder cancer (NMIBC). CIS is a more aggressive cancer, but it is known that it responds well to immunotherapeutic interventions.
Others: * On December 2, 2013, Telormedix, a clinical stage biopharmaceutical company focused on TLR7 agonists in the treatment of cancer and inflammatory diseases, has raised CHF 6 Million (€ 4.87 million) in an extension to its Series B financing from existing investors Aravis Venture and Proquest Investments. Telormedix has previously raised CHF 28.5M ($31.2M) in venture funding and, with this round, the total is now CHF 34.5M ($37.8M).
Therapeutic area: Cancer - Oncology - Inflammatory diseases
